China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Up 45.2% in October

China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 10,600 shares, an increase of 45.2% from the October 15th total of 7,300 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 66,100 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, StockNews.com downgraded China Automotive Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 14th.

China Automotive Systems Price Performance

NASDAQ:CAAS traded up $0.08 during trading hours on Friday, reaching $4.33. 25,844 shares of the stock were exchanged, compared to its average volume of 57,514. The stock has a market cap of $130.71 million, a PE ratio of 4.12 and a beta of 2.45. China Automotive Systems has a twelve month low of $3.04 and a twelve month high of $4.97. The firm has a 50 day moving average of $4.20 and a 200 day moving average of $3.89.

China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings data on Tuesday, August 13th. The auto parts company reported $0.24 EPS for the quarter. The company had revenue of $158.61 million during the quarter. China Automotive Systems had a return on equity of 8.24% and a net margin of 5.12%.

Institutional Investors Weigh In On China Automotive Systems

Several large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of China Automotive Systems by 14.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock valued at $401,000 after buying an additional 11,197 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of China Automotive Systems by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 136,737 shares of the auto parts company’s stock valued at $629,000 after buying an additional 6,968 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of China Automotive Systems by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock valued at $1,491,000 after buying an additional 6,900 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in China Automotive Systems in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 5.17% of the company’s stock.

About China Automotive Systems

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.